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The Year Ahead

U.S. Is Losing the Battery Race Despite Having the Right Stuff

Raw materials? Yes. Demand? Yes. So what’s the problem?
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The U.S. isn’t just losing the battery race—it’s barely in the running. But it doesn’t have to be that way.

China dominates lithium-ion battery production and is building factories at breakneck speed. Europe, too, is adding battery plants as its power grid and car companies shift away from fossil fuels. Although a few factories are planned in the U.S., including Tesla Inc.’s Texas plant, BloombergNEF currently expects the country’s share of worldwide battery production to fall from 8% today to 6% in 2025.